Coca Cola Co
Coca Cola Co returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q3 | Oct 2, 2026 | 18.74% | 18.34% | 63,693.31% | 42.64% | 13.67% | 11 pp |
| FY 2026 Q2 | Jul 3, 2026 | 17.92% | 17.99% | — | 44.23% | 13.49% | 10.2 pp |
| FY 2026 Q1 | Apr 3, 2026 | 17.56% | 18.11% | 298.27% | 45.8% | 13.31% | 9.9 pp |
| FY 2025 Q4 | Dec 31, 2025 | 17.5% | 17.33% | 32.56% | 45.97% | 12.76% | 9.8 pp |
| FY 2025 Q3 | Sep 26, 2025 | 18.85% | 18.15% | 56.21% | 45.12% | 12.28% | 11.1 pp |
| FY 2025 Q2 | Jun 27, 2025 | 16.82% | 17.05% | 17.38% | 44.76% | 11.85% | 9.1 pp |
| FY 2025 Q1 | Mar 28, 2025 | 14.66% | 15.46% | 10.26% | 40.98% | 10.72% | 7 pp |
| FY 2024 Q4 | Dec 31, 2024 | 13.6% | 13.37% | — | 41.86% | 10.72% | 5.9 pp |
| FY 2024 Q3 | Sep 27, 2024 | 13.46% | 12.67% | -34.05% | 39.4% | 10.21% | 5.8 pp |
| FY 2024 Q2 | Jun 28, 2024 | 14.97% | 14.1% | -51.84% | 41.06% | 10.67% | 7.3 pp |
| FY 2024 Q1 | Mar 29, 2024 | 14.57% | 13.9% | -9.38% | 41.76% | 10.96% | 6.9 pp |
| FY 2023 Q4 | Dec 31, 2023 | 16.22% | 15.37% | 9.43% | 42.82% | 11.25% | 8.5 pp |
| FY 2023 Q3 | Sep 29, 2023 | 17.35% | 15.41% | 11.31% | 43.85% | 11.34% | 9.7 pp |
| FY 2023 Q2 | Jun 30, 2023 | 16.25% | 14.87% | 16.51% | 42.88% | 10.97% | 8.6 pp |
| FY 2023 Q1 | Mar 31, 2023 | 15.31% | 14.56% | — | 39.42% | 10.31% | 7.6 pp |
| FY 2022 Q4 | Dec 31, 2022 | 15.76% | 14.8% | — | 40.51% | 10.2% | 8.1 pp |
| FY 2022 Q3 | Sep 30, 2022 | 16.71% | 14.43% | — | 44.13% | 10.84% | 9 pp |
| FY 2022 Q2 | Jul 1, 2022 | 15.51% | 13.98% | — | 42.3% | 10.44% | 7.8 pp |
| FY 2022 Q1 | Apr 1, 2022 | 15.18% | 14.77% | 441.86% | 45.61% | 11.2% | 7.5 pp |
| FY 2021 Q4 | Dec 31, 2021 | 14.12% | 14.02% | 147.29% | 46.2% | 10.76% | 6.4 pp |
| FY 2021 Q3 | Oct 1, 2021 | 15.08% | 15.15% | — | 43.22% | 9.39% | 7.4 pp |
| FY 2021 Q2 | Jul 2, 2021 | 14.33% | 14.54% | -2.09% | 40.67% | 8.74% | 6.6 pp |
| FY 2021 Q1 | Apr 2, 2021 | 14.22% | 13.82% | -11.75% | 37.48% | 7.84% | 6.5 pp |
| FY 2020 Q4 | Dec 31, 2020 | 12.5% | 13.62% | — | 40.48% | 8.92% | 4.8 pp |
| FY 2020 Q3 | Sep 25, 2020 | 14.95% | 13.31% | -4.19% | 44.66% | 9.03% | 7.2 pp |
| FY 2020 Q2 | Jun 26, 2020 | 15.87% | 14.05% | -3.03% | 51.53% | 9.95% | 8.2 pp |
| FY 2020 Q1 | Mar 27, 2020 | 19.44% | 16.44% | — | 55.82% | 10.99% | 11.7 pp |
| FY 2019 Q4 | Dec 31, 2019 | 15.15% | 17.79% | 36.42% | 49.61% | 10.52% | 7.4 pp |
| FY 2019 Q3 | Sep 27, 2019 | 18.24% | 16.06% | 292.87% | 41.91% | 8.89% | 10.5 pp |
| FY 2019 Q2 | Jun 28, 2019 | 17.68% | 15.97% | 416.46% | 38.54% | 7.83% | 10 pp |
| FY 2019 Q1 | Mar 29, 2019 | 15.93% | 15.1% | — | 36.12% | 7.43% | 8.2 pp |
| FY 2018 Q4 | Dec 31, 2018 | 12.3% | 15.17% | — | 37.79% | 7.52% | 4.6 pp |
| FY 2018 Q3 | Sep 28, 2018 | 6.96% | 14.17% | — | 13.93% | 3.17% | -0.7 pp |
| FY 2018 Q2 | Jun 29, 2018 | 5.43% | 13.24% | — | 11.8% | 2.63% | -2.3 pp |
| FY 2018 Q1 | Mar 30, 2018 | 2.98% | 11.79% | -193.23% | 6.75% | 1.55% | -4.7 pp |
| FY 2017 Q4 | Dec 31, 2017 | 2.18% | 12.35% | -3,198.53% | 6.22% | 1.42% | -5.5 pp |
| FY 2017 Q3 | Sep 29, 2017 | 11.35% | 11.68% | — | 18.88% | 4.93% | 3.6 pp |
| FY 2017 Q2 | Jun 30, 2017 | 10.84% | 12.12% | — | 17.06% | 4.48% | 3.1 pp |
| FY 2017 Q1 | Mar 31, 2017 | 14.67% | 13.79% | — | 26.06% | 6.82% | 7 pp |
| FY 2016 Q4 | Dec 31, 2016 | 11.31% | 13.92% | — | 26.85% | 7.36% | 3.6 pp |
| FY 2016 Q3 | Sep 30, 2016 | 14.6% | 13.78% | 7.71% | 27.68% | 7.72% | 6.9 pp |
| FY 2016 Q2 | Jul 1, 2016 | 14.5% | 13.77% | 12.46% | 27.67% | 8.12% | 6.8 pp |
| FY 2016 Q1 | Apr 1, 2016 | 13.5% | 13.7% | — | 27.08% | 7.98% | 5.8 pp |
| FY 2015 Q4 | Dec 31, 2015 | 10.64% | 14.21% | — | 26.31% | 8.07% | 2.9 pp |
| FY 2015 Q3 | Oct 2, 2015 | 14.5% | 13.86% | — | 23.15% | 7.27% | 6.8 pp |
| FY 2015 Q2 | Jul 3, 2015 | 14.9% | 14.1% | -16.68% | 24.16% | 7.99% | 7.2 pp |
| FY 2015 Q1 | Apr 3, 2015 | 16.08% | 15.27% | -3.1% | 22.88% | 7.72% | 8.4 pp |
| FY 2014 Q4 | Dec 31, 2014 | 12.03% | 15.93% | -8.54% | 22.36% | 7.8% | 4.3 pp |
| FY 2014 Q3 | Sep 26, 2014 | 19% | 17.28% | 2.53% | 24.52% | 8.65% | 11.3 pp |
| FY 2014 Q2 | Jun 27, 2014 | 18.19% | 16.89% | -24.66% | 25.25% | 9.05% | 10.5 pp |
| FY 2014 Q1 | Mar 28, 2014 | 17.64% | 17.2% | -40.08% | 25.95% | 9.4% | 9.9 pp |
| FY 2013 Q4 | Dec 31, 2013 | 13.11% | 16.96% | -21.54% | 26.03% | 9.74% | 5.4 pp |
| FY 2013 Q3 | Sep 27, 2013 | 19.71% | 17.76% | — | 26.75% | 9.93% | 12 pp |
| FY 2013 Q2 | Jun 28, 2013 | 20.26% | 18.37% | 13.66% | 26.68% | 9.85% | 12.6 pp |
| FY 2013 Q1 | Mar 29, 2013 | 19.83% | 18.35% | 16.97% | 26.7% | 10.11% | 12.1 pp |
| FY 2012 Q4 | Dec 31, 2012 | 15.92% | 18.9% | 6.11% | 28% | 10.86% | 8.2 pp |
| FY 2012 Q3 | Sep 28, 2012 | 20.84% | 18.21% | 8.35% | 26.52% | 10.46% | 13.1 pp |
| FY 2012 Q2 | Jun 29, 2012 | 20.36% | 18.34% | — | 25.86% | 10.55% | 12.7 pp |
| FY 2012 Q1 | Mar 30, 2012 | 20.11% | 18.35% | — | 26.81% | 10.91% | 12.4 pp |
| FY 2011 Q4 | Dec 31, 2011 | 16.55% | 18.44% | 48.76% | 27.37% | 11.21% | 8.9 pp |
| FY 2011 Q3 | Sep 30, 2011 | 26% | 20.14% | — | 41.52% | 18.68% | 18.3 pp |
| FY 2011 Q2 | Jul 1, 2011 | — | 19.81% | — | 41.29% | 19.49% | — |
| FY 2011 Q1 | Apr 1, 2011 | — | 19.43% | — | 42.33% | 19.59% | — |
| FY 2010 Q4 | Dec 31, 2010 | 18.65% | 18.91% | 4.26% | 42.32% | 19.42% | 10.9 pp |
| FY 2010 Q3 | Oct 1, 2010 | — | 25.73% | — | 29.24% | 14.98% | — |
| FY 2010 Q2 | Jul 2, 2010 | — | 26.5% | — | 30.55% | 15.71% | — |
| FY 2010 Q1 | Apr 2, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Oct 2, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jul 3, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 19, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · KO, USD. Latest completed close Oct 27, 2026. Price data retrieved Oct 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.